Zhejiang Jolly Pharma to IPO on ChiNext Exchange

Zhejiang Jolly Pharmaceutical has been approved to IPO on Shenzhen’s ChiNext exchange. The company will offer 20 million shares, representing 25% of the post-IPO capitalization, at an as-yet undetermined price. Zhejiang Jolly intends to use the proceeds to fund research, production and distribution of its Wuling power and capsules, a traditional Chinese medicine that treats depression. More details....